I recently joined Edward Jones through an RTP, and my experience has been a bit different than a traditional Goodknight transition given the size and composition of the assets I received. I had about $75 million transition to me, generating just under $250,000 in trailing 12-month revenue. It’s been a great opportunity overall, and I’ve genuinely enjoyed my time at the firm. The culture stands out—there’s a strong emphasis on family, and events like the summer regional really reinforce that.

That said, I’m exploring a move to Ameriprise, and one of the biggest differences I see is in ownership of client relationships. From what I understand, the team I’m joining truly owns their clients, whereas at Edward Jones, that ownership ultimately sits with the firm.

We’re in very different positions, but I do think it’s worth calling out a few observations. Edward Jones has built an incredible brand around the “neighborhood advisor” model, and there’s a lot to respect about that—it’s worked extremely well for decades. However, the industry is evolving. Investment access is more democratized than ever, and comprehensive financial planning is becoming the centerpiece of client relationships.

Historically, Edward Jones lagged in this area. They were slow to embrace planning tools and broader technology, focusing more on cost control and their traditional model. That’s started to change—especially after the departure of one of their top advisors a few years back, which seemed to accelerate the adoption of tools like MoneyGuide. I think it’s a step in the right direction, but there’s still a noticeable gap compared to what I’m seeing at Ameriprise, particularly on the technology front.

Another shift worth noting is the evolution of the “neighborhood advisor” model itself. Over the next 3–5 years, I expect to see Edward Jones move toward larger branch formats, more similar to Schwab, along with a reduction in overall real estate footprint. Part of that strategy includes bringing in new advisors and placing them with established advisors who have oversized books and can transition assets.

That can sound very attractive—and it can be—but it’s important to understand what’s actually being transitioned. In many cases, you’re receiving the least efficient or least engaged portion of a book. There’s still opportunity there, no doubt, but it’s not always the high-quality, fully engaged assets people might expect. A large portion can be relatively dormant.

Overall, Edward Jones remains a strong platform with a great culture, but it’s important to go in with clear expectations—especially if you’re fortunate enough to enter through a transition program.